
Kotak Securities reviews a volatile first week of Trump's tenure in which the dollar index fell about 2% from a 25-month high to 107.5. Gold hit a three-month high near $2,794 an ounce on safe-haven demand tied to tariff threats against Europe, China, Mexico and Canada.
Tariff threats boost safe-haven demand and weaken the dollar, which can support commodity prices in dollar terms. Trade uncertainty also affects export flows for grains and oilseeds.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.